Vikas Lifecare, a known player in recycling, has established a joint venture (JV) in collaboration with Indraprastha Gas Limited (IGL) to create India’s inaugural integrated state-of-the-art smart meter manufacturing facility. The cutting-edge manufacturing unit will be established with an investment of ₹108 crore.
Under its subsidiary, Genesis Gas Solutions Pvt Ltd (Genesis), Vikas Lifecare has partnered with IGL to form the JV named IGL Genesis Technologies Ltd. The collaboration aims to establish a smart meter manufacturing plant in Noida, Uttar Pradesh.
The facility, spanning 65,000 square foot, is expected to be operational by July 20204, and will have a capacity to produce one million smart meters annually. As reported by msn.com, Vikas Lifecare specialises in recycling plastic waste to craft pallets and interlocking tiles designed for various industrial applications.
